Home sweet hotel

Spas, pools and Zen gardens, a few perks of mixed-use living

October 17, 2009|By Chelsea Schneider, FOR REDEYE

Every morning, Sam Moellering has the option of grabbing a continental breakfast on his way to the office. When he gets home from work, a doorman greets him by name. And if he's in the mood for a gourmet dinner or a nightcap, there are two high-end restaurants to choose from steps from his second-floor studio apartment -- and he doesn't even have to leave the building to get a table.

Those are just a few perks at Moellering's disposal in the Belden-Stratford, a Lincoln Park hotel that also rents out studios and one- and two-bedroom apartments.

"One of the neatest things is to walk in the lobby and have two doormen," said Moellering, 25. "I've been here seven months and have gotten to know the apartment staff by name."

Spas, pools, valets, bars and dry cleaners are standard fare for upscale hotels, but that kind of service also is available at the Belden-Stratford and other urban mixed hotel and residential complexes, including two recent additions to Chicago's downtown landscape, Trump International Hotel and Tower and Aqua Tower. Few of those perks are free for renters and condo owners, but it's the convenience and cool factor that attracts the residents who talked to RedEye.

On any given day at the Belden-Stratford, Moellering navigates the lobby through diners who are waiting to get into restaurants L20 and Mon Ami Gabi, weekend wedding receptions and the occasional business function.

"It's almost like prom night every night in the hotel," said Moellering, who initially was attracted to the building, which dates back to the 1920s, by a lobby that is classically decorated with ornate crown molding, vintage chandeliers and painted ceiling.

His monthly rent check covers utilities, cable and wireless Internet. Continental breakfast costs about $1 per item, but that doesn't stop Moellering from using the service a few times a month, especially when he has guests.

The Belden-Stratford has offered both short-term and long-term stays since the hotel opened in 1923. But the concept of mixing hotel rooms with residential units -- both apartments and condominiums -- developed on a large scale about five years ago in cities such as Miami and Las Vegas that are major tourist destinations, said George Ratiu, a Washington, D.C.-based economist for the National Association of Realtors, before spreading to other cities, including Chicago.

Neither Ratiu nor local real estate experts who spoke to RedEye could estimate the number of rentals and condos in Chicago's mixed-use developments.

While Ratiu said the practice of mixing hotels and residences has tailed off nationally in the past couple of years due to the sluggish real estate market and hotel vacancies, the developments began as investment properties that often appreciated in value.

"They're going to be similar to hotels with recreation facilities and retail outlets," Ratiu said. "Given that the properties are meant to be income-producing and depend on guests, they will have top-notch amenities and be more like four- or five-star hotels."

One recent example in Chicago is the 82-story Aqua Tower, which boasts a Zen garden, basketball court and pool with underwater speakers that are iPod compatible.

"There's kind of a vibe to the place that's different to a pure residential place," said David Carlins, president of the Magellan Development Group that created the Aqua community. "It's the best of both worlds."

The development still is negotiating details for a hotel, but it opened its first apartments in May, and condo owners began closing in September. Once the hotel is in place, Carlins said residential tenants will be able to order cleaning and room service.

Harriet Garris, 23, said she has enjoyed her first month living at the Belden-Stratford, but renting in a mixed-use development can have its drawbacks, especially on Friday and Saturday nights when she has to step over and around suitcases as guests arrive for weekend stays.

Still, Garris prefers to look on the bright side.

"The people are changing all the time, so it's nice," Garris said. "It is a constant change of scenery for someone with a short attention span." CHELSEA SCHNEIDER IS A REDEYE SPECIAL CONTRIBUTOR.

PERKS AT A PRICE

At Aqua, condo owners' assessments range from $266 per month for a studio to $2,400 for a penthouse -- and that's in addition to the monthly mortgage bill. Those assessments pay for utilities, including gas, water, Internet and cable, as well as access to amenities such as a pool, gym and barbecue area.